Robinhood announced today that Robinhood Ventures Fund I (RVI) has filed an initial registration statement on Form N-2 with the Securities and Exchange Commission (SEC) to begin the process to register a public offering of its shares.
Managed by Robinhood Ventures DE, LLC, a newly formed wholly-owned subsidiary of Robinhood Markets, Inc., RVI is a closed-end fund that aims to offer retail investors exposure to companies at the frontiers of their industries, while they are still private.
“For decades, wealthy people and institutions have invested in private companies while retail investors have been unfairly locked out. With Robinhood Ventures, everyday people will be able to invest in opportunities once reserved for the elite,” said Robinhood Chairman and CEO Vlad Tenev.
Similar to private tokenized stocks in the EU, RVI will serve as a vehicle for retail investors in the US to participate in private markets and gain exposure to companies while they are still private.
RVI investment program will focus on a concentrated portfolio of private companies at the frontiers of their respective industries. RVI plans to hold investments for the long-term through IPO and beyond, and will seek to invest across a number of sectors.
The Form N-2 registration statement is subject to SEC review and the shares may not be sold until the registration statement is declared effective. Robinhood intends for the shares to be traded under the symbol RVI on the NYSE and retail investors will be able to buy and sell through brokerages like Robinhood Financial LLC.
